INVESTMENT ADVISOR

The City of Bayonne, New Jersey, is soliciting qualifications and proposals through a Request for Qualifications/Request for Proposals (RFQ/RFP) for professional/consulting services from an Investment Advisor. The selected advisor will be responsible for a comprehensive range of services, including analyzing the City’s various funds and accounts to develop and execute an optimal investment strategy. This encompasses procuring selected investments in coordination with the City’s custodial bank(s), providing ongoing monitoring of City assets and investments, and conducting regular meetings with City officials to report on strategy progress. The advisor will also be expected to present to the City Council as necessary regarding investment performance, evaluate risks of potential securities, monitor funds for forthcoming investment needs, discuss new market activities and their impact on strategy, perform an annual review of the City’s Cash Management Plan, solicit offerings from broker-dealers/banks for Permitted Investments, and manage the associated settlement processes. This engagement aims to ensure prudent and effective management of municipal funds in accordance with New Jersey Local Unit Pay to Play Law. Prospective contractors must demonstrate strong licensure, extensive experience, and a reputable standing in the investment advisory field. Essential general requirements include the proven ability to proficiently address, complete, and facilitate all items within the defined scope of services, coupled with demonstrated expertise in all necessary forms, rules, and calculations. Crucially, respondents must possess in-depth experience and knowledge of the workings and trading within the U.S. Treasury, Agency, and Municipal Bond Markets. Furthermore, a familiarity with the City of Bayonne and the specific subject matter to be addressed under the contract is required, alongside availability to accommodate all mandated City meetings. The initial contract term is set for one year, commencing May 1, 2024, and concluding April 30, 2025, with a potential for a one-year renewal at the City’s sole discretion. Mandatory insurance coverages include Worker’s Compensation, General Liability ($1,000,000 per occurrence, $2,000,000 aggregate), Automotive Liability ($1,000,000 per occurrence, $2,000,000 aggregate), and Professional Liability ($1,000,000 per occurrence, claims-based). Sealed proposals and responses must be physically received by the City Law Department, located at 630 Avenue C, 1st Floor, Room 15, Bayonne, New Jersey 07002, no later than the submission deadline of April 15, 2024, at 10:00 a.m. All proposals will be publicly opened at the City of Bayonne Law Department on April 15, 2024, at 11:00 a.m. Required submission components include the Standardized Professional Service RFQ/RFP SUBMISSION FORMS (encompassing the Proposal, Qualifications and Costs Submission Form, a signed and notarized Non-Collusion Affidavit, and a signed Disclosure of Ownership form), a copy of the vendor's current NJ Business Registration Certificate, and a Certificate of Good Standing from the NJ Department of the Treasury, Division of Revenue and Enterprise Services. Cost proposals should detail fee structures based on the scope of services and include anticipated reimbursable costs. The City reserves the right to extend the submission deadline, reject all submissions without cause, reject specific submissions due to mandatory item defects, waive non-mandatory items, and accept any submission deemed to be in its best interest. Solicitation packages are available on the City of Bayonne website or directly from the City Law Department during regular business hours.